According to Wu, the Digital Asset Exchange Association of Korea (DAXA) issued the "Model Rules for Real-time Monitoring of Abnormal Transactions" and "Standard Advertising Rules" before the "Virtual Asset User Protection Act" came into effect on July 19.

The Model Rules for Real-time Monitoring of Abnormal Transactions include an alert system that was originally adopted as a self-regulatory rule, as well as general market monitoring procedures that all exchanges must follow by law.

The Standard Advertising Rules set out specific procedures and methods that exchanges must follow when conducting advertising. DAXA said it will continue to fully support the successful implementation of the new law.